XML 166 R148.htm IDEA: XBRL DOCUMENT v3.3.1.900
Subsidiary Information - Condensed Consolidating Statement of Operations (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues                      
Net earned premiums $ 192 $ 213 $ 219 $ 142 $ 158 $ 144 $ 136 $ 132 $ 766 [1] $ 570 [1] $ 752 [1]
Net investment income 112 112 98 101 102 102 96 103 423 403 393
Net realized investment gains (losses) (6) (27) (9) 16 (35) (19) (8) 2 (26) (60) 52
Net change in fair value of credit derivatives:                      
Realized gains (losses) and other settlements                 (18) 23 (42)
Net unrealized gains (losses)                 746 800 107
Net change in fair value of credit derivatives 428 86 90 124 676 255 103 (211) 728 823 65
Bargain purchase gain and settlement of pre-existing relationships 0 0 214 0 0 0 0 0 214 0 0
Other                 102 258 346
Total revenues                 2,207 1,994 1,608
Expenses                      
Loss and LAE 106 112 188 18 72 (44) 57 41 424 126 154
Amortization of DAC 5 5 6 4 13 4 3 5 20 25 12
Interest expense 25 25 26 25 25 27 20 20 101 92 82
Other operating expenses 55 54 66 56 55 50 55 60 231 220 218
Total expenses                 776 463 466
Income (loss) before income taxes 584 172 409 266 756 488 218 69 1,431 1,531 1,142
Total (provision) benefit for income taxes (155) (43) (112) (65) (224) (133) (59) (27) (375) (443) (334)
Equity in net earnings of subsidiaries                 0 0 0
Net income (loss)                 1,056 1,088 808
Less: noncontrolling interest                 0 0 0
Net income (loss) $ 429 $ 129 $ 297 $ 201 $ 532 $ 355 $ 159 $ 42 1,056 1,088 808
Comprehensive income (loss)                 923 1,298 453
Reportable Legal Entities [Member] | Assured Guaranty Ltd. (Parent) [Member]                      
Revenues                      
Net earned premiums                 0 0 0
Net investment income                 0 0 0
Net realized investment gains (losses)                 0 0 0
Net change in fair value of credit derivatives:                      
Realized gains (losses) and other settlements                 0 0 0
Net unrealized gains (losses)                 0 0 0
Net change in fair value of credit derivatives                 0 0 0
Bargain purchase gain and settlement of pre-existing relationships                 0    
Other                 0 0 0
Total revenues                 0 0 0
Expenses                      
Loss and LAE                 0 0 0
Amortization of DAC                 0 0 0
Interest expense                 0 0 0
Other operating expenses                 30 31 22
Total expenses                 30 31 22
Income (loss) before income taxes                 (30) (31) (22)
Total (provision) benefit for income taxes                 0 0 0
Equity in net earnings of subsidiaries                 1,086 1,119 830
Net income (loss)                 1,056 1,088 808
Less: noncontrolling interest                 0 0 0
Net income (loss)                 1,056 1,088 808
Comprehensive income (loss)                 923 1,298 453
Reportable Legal Entities [Member] | AGUS (Issuer) [Member]                      
Revenues                      
Net earned premiums                 0 0 0
Net investment income                 1 0 0
Net realized investment gains (losses)                 0 0 0
Net change in fair value of credit derivatives:                      
Realized gains (losses) and other settlements                 0 0 0
Net unrealized gains (losses)                 0 0 0
Net change in fair value of credit derivatives                 0 0 0
Bargain purchase gain and settlement of pre-existing relationships                 0    
Other                 0 0 0
Total revenues                 1 0 0
Expenses                      
Loss and LAE                 0 0 0
Amortization of DAC                 0 0 0
Interest expense                 52 40 28
Other operating expenses                 1 1 1
Total expenses                 53 41 29
Income (loss) before income taxes                 (52) (41) (29)
Total (provision) benefit for income taxes                 18 14 9
Equity in net earnings of subsidiaries                 923 983 768
Net income (loss)                 889 956 748
Less: noncontrolling interest                 0 0 0
Net income (loss)                 889 956 748
Comprehensive income (loss)                 787 1,114 522
Reportable Legal Entities [Member] | AGMH (Issuer) [Member]                      
Revenues                      
Net earned premiums                 0 0 0
Net investment income                 0 1 1
Net realized investment gains (losses)                 1 0 0
Net change in fair value of credit derivatives:                      
Realized gains (losses) and other settlements                 0 0 0
Net unrealized gains (losses)                 0 0 0
Net change in fair value of credit derivatives                 0 0 0
Bargain purchase gain and settlement of pre-existing relationships                 0    
Other                 0 0 0
Total revenues                 1 1 1
Expenses                      
Loss and LAE                 0 0 0
Amortization of DAC                 0 0 0
Interest expense                 54 54 54
Other operating expenses                 1 1 1
Total expenses                 55 55 55
Income (loss) before income taxes                 (54) (54) (54)
Total (provision) benefit for income taxes                 19 19 17
Equity in net earnings of subsidiaries                 468 513 701
Net income (loss)                 433 478 664
Less: noncontrolling interest                 0 0 0
Net income (loss)                 433 478 664
Comprehensive income (loss)                 359 577 515
Reportable Legal Entities [Member] | Other Entities [Member]                      
Revenues                      
Net earned premiums                 783 566 740
Net investment income                 432 412 408
Net realized investment gains (losses)                 (19) (58) 87
Net change in fair value of credit derivatives:                      
Realized gains (losses) and other settlements                 (18) 23 (42)
Net unrealized gains (losses)                 773 800 107
Net change in fair value of credit derivatives                 755 823 65
Bargain purchase gain and settlement of pre-existing relationships                 54    
Other                 102 259 348
Total revenues                 2,107 2,002 1,648
Expenses                      
Loss and LAE                 434 122 144
Amortization of DAC                 29 33 12
Interest expense                 14 16 20
Other operating expenses                 202 195 199
Total expenses                 679 366 375
Income (loss) before income taxes                 1,428 1,636 1,273
Total (provision) benefit for income taxes                 (365) (469) (387)
Equity in net earnings of subsidiaries                 39 32 19
Net income (loss)                 1,102 1,199 905
Less: noncontrolling interest                 39 32 19
Net income (loss)                 1,063 1,167 886
Comprehensive income (loss)                 967 1,570 309
Consolidating Adjustments [Member]                      
Revenues                      
Net earned premiums                 (17) 4 12
Net investment income                 (10) (10) (16)
Net realized investment gains (losses)                 (8) (2) (35)
Net change in fair value of credit derivatives:                      
Realized gains (losses) and other settlements                 0 0 0
Net unrealized gains (losses)                 (27) 0 0
Net change in fair value of credit derivatives                 (27) 0 0
Bargain purchase gain and settlement of pre-existing relationships                 160    
Other                 0 (1) (2)
Total revenues                 98 (9) (41)
Expenses                      
Loss and LAE                 (10) 4 10
Amortization of DAC                 (9) (8) 0
Interest expense                 (19) (18) (20)
Other operating expenses                 (3) (8) (5)
Total expenses                 (41) (30) (15)
Income (loss) before income taxes                 139 21 (26)
Total (provision) benefit for income taxes                 (47) (7) 27
Equity in net earnings of subsidiaries                 (2,516) (2,647) (2,318)
Net income (loss)                 (2,424) (2,633) (2,317)
Less: noncontrolling interest                 (39) (32) (19)
Net income (loss)                 (2,385) (2,601) (2,298)
Comprehensive income (loss)                 $ (2,113) $ (3,261) $ (1,346)
[1] Excludes $21 million, $32 million and $60 million for the year ended December 31, 2015, 2014 and 2013, respectively, related to consolidated FG VIEs.